NZ's AFT Pharmaceuticals slumps on dismal HY results

AFT Pharmaceuticals

23/11/2022 23:13

** Shares of AFT Pharmaceuticals Ltd  AFT.NZ  fell as much
as 8.5% to NZ$3.650, biggest intraday pct loss since Apr 1, 2021
    ** The drugmaker says HY NPAT decreased to NZ$1.5 mln 
($936,300.00) from NZ$4.2 mln 
    ** Says HY operating revenue up 18.4% to NZ$65.8 mln
    ** Co says it now expects FY23 operating profits of NZ$18
mln-NZ$23 mln, lower than the NZ$27 mln-NZ$32 mln flagged at the
start of the financial year
    ** Co says it expects to declare a maiden dividend for FY23
    ** Co targeting near-term annual revenue of NZ$200 mln 
    ** Says it expects FY results to be more skewed to the
second half than normal
    ** Shares touch their lowest since Nov 15
    ** Stock has fallen ~11% this year, as of last year
($1 = 1.6021 New Zealand dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))